That's gotta change. We also asked Baldwin about issues involving the elderly, including the possibility of the Social Security trust fund running out of money within the next decade. One way to do that would be to lift what we call the income cap so that people who are multimillionaires are paying into Social Security. If we did that one action, the solvency would extend for decades. But right now, multimillionaires only pay on like 1% of their income into Social Security. And after that, the cap hits and they no longer pay into the system. (02:51–03:09)
CLAIM
Asserts that lifting the income cap on Social Security contributions would extend its solvency for decades.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
